Natixis Advisors LLC Sells 9,720 Shares of Alcoa Co. (NYSE:AA)

Natixis Advisors LLC lowered its stake in Alcoa Co. (NYSE:AA) by 49.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,066 shares of the industrial products company’s stock after selling 9,720 shares during the quarter. Natixis Advisors LLC’s holdings in Alcoa were worth $388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AA. Tidal Investments LLC boosted its holdings in Alcoa by 518.6% in the first quarter. Tidal Investments LLC now owns 51,311 shares of the industrial products company’s stock worth $1,734,000 after purchasing an additional 43,016 shares during the last quarter. Comerica Bank boosted its holdings in Alcoa by 74.4% in the first quarter. Comerica Bank now owns 134,705 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 57,484 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Alcoa by 24.0% in the first quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company’s stock worth $366,000 after purchasing an additional 2,096 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Alcoa by 9.9% during the 2nd quarter. Confluence Investment Management LLC now owns 11,428 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,027 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of Alcoa by 3.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 1,394,738 shares of the industrial products company’s stock worth $55,483,000 after acquiring an additional 43,018 shares during the last quarter.

Insider Buying and Selling at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Alcoa Stock Down 3.2 %

AA opened at $45.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of -26.07, a price-to-earnings-growth ratio of 0.89 and a beta of 2.42. The firm’s fifty day moving average is $41.22 and its 200 day moving average is $38.15. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. Alcoa’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) EPS. On average, sell-side analysts forecast that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Alcoa’s dividend payout ratio is currently -22.73%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AA. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, October 23rd. Finally, B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.